Optimize Financial Inc Makes New Investment in Quanta Services, Inc. $PWR

Key Points

• Optimize Financial Inc has acquired a new stake in Quanta Services, Inc., purchasing 906 shares valued at approximately $230,000 during the first quarter.
• Quanta Services reported a strong quarterly performance with $2.48 EPS, surpassing estimates, and 21.1% revenue growth year-over-year, totaling $6.77 billion.
• The company declared a quarterly dividend of $0.10 per share, resulting in a 0.1% dividend yield, with payment scheduled for October 10th.

Optimize Financial Inc acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 906 shares of the construction company's stock, valued at approximately $230,000.

Other hedge funds have also added to or reduced their stakes in the company. SCP Investment LP acquired a new stake in Quanta Services during the 1st quarter valued at $966,000. Brighton Jones LLC acquired a new position in Quanta Services in the 4th quarter valued at about $298,000. Wealth Enhancement Advisory Services LLC grew its stake in Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after buying an additional 2,479 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after buying an additional 588 shares during the last quarter. Finally, Objectivity Squared LLC acquired a new position in Quanta Services in the 1st quarter valued at about $213,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

PWR stock traded down $7.14 during midday trading on Friday, reaching $382.50. The company had a trading volume of 833,428 shares, compared to its average volume of 837,370. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The company has a market capitalization of $57.00 billion, a price-to-earnings ratio of 59.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. The stock has a 50 day moving average price of $387.66 and a 200-day moving average price of $334.36. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm's revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research reports. Piper Sandler reiterated an "overweight" rating and issued a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Seaport Res Ptn raised Quanta Services to a "hold" rating in a report on Thursday, July 10th. Citigroup lifted their target price on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price for the company. in a report on Wednesday, July 2nd. Finally, Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $397.18.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.